From Motor City to Tech City?

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July 19 (Bloomberg) -- Co-Founder and President Eric Corl discusses why angel investors are looking at Detroit with Deirdre Bolton on Bloomberg Television's "Money Moves." (Source: Bloomberg)

Thank you for having me.

I think we are certain to see that happening.

The funding landscape has changed with angel investing and crowd funding.

We are seeing investments in places like grapevine, texas, cleveland, ohio.

All across the country investors are able to find great businesses anywhere.

Is their tech hope for a city such as detroit?

Are there any angel investors that would think about putting money into a business in that city?


Angel investors are interested in great deals anywhere.

They are great companies with great startups in detroit and a lot of great businesses that call detroit home.

We believe in the startup ecosystem there.

We believe it is going to be very transformative in the neck 10 years.

Based on what?

Is it the fact in the pass there has been -- in the past there has been a lot of engineering know-how?

Where do you see the pockets of strength?

Certainly it has a long history of invention and creativity.

However you are seeing a lot of great start up activity in detroit with dan gilbert, for example, the founder of quicken loans . a lot of great startups are coming out of detroit.

They have a low cost of living.

Their operations are inexpensive.

They are creating jobs . startups in the past 10 years have been responsible for 90% of the new jobs in america.

Jobs attract capital, they pump money into an economy.

We believe that focuses going to be critical to detroit having a successful recovery.

That is your point of view as an angel investor.

As an entrepreneur, can you find tech talent in the midwest?

The cliche is basically everyone that is needed to get your company on the ground -- off the ground is either on the east or west coast.

Talent is always an issue in any city.

In san francisco you have trouble finding talent because there is a sort it there as well.

-- there is a shortage there as well.

Education is key.

Anyplace there is a university.

Where there are jobs that will attract talent so you can create jobs, you will be able to attract that talent and bring in smart and savvy programmers.

We have seen that in austin, d.c., and even las vegas.

Your most recent venture , it is a platform for streaming as a funding process.

What is the most exciting development you are seeing right now?

Over the past four months we have seen $15 million in funding commitments.

Funding commitments for great companies, not just in the tech sector.

All across the nation in cities that you would otherwise not be able to find capital, we had a tech operator brynner in cleveland ohio.

He was able to raise over $1 million on our platform because he was able to tap into investors outside of cleveland ohio.

We thank you very much for the time.

This text has been automatically generated. It may not be 100% accurate.


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